Private equity firm Cardon Capital announced on June 27 that it has added 1,000 Bitcoin (BTC) to its balance sheet, with a current market value exceeding $100 million. The acquisition is a key step in real estate tycoon Grant Cardon's corporate Bitcoin treasury strategy.
Bulk Buy: 1,000 BTC Added
A long-time Bitcoin advocate, Cardon previously held BTC personally. The corporate-level purchase follows an early-2025 meeting with Strategy (formerly MicroStrategy) Executive Chairman Michael Saylor, which inspired Cardon to launch a series of private funds combining Bitcoin with real estate. "The meeting with Saylor showed me how to maximize investor capital by integrating crypto with tangible assets," Cardon said in a statement.
Innovative Fund: "10X Miami River Bitcoin Fund"
The latest vehicle is the "10X Miami River Bitcoin Fund", which invests in both a 346-unit multi-family commercial property on Miami River and Bitcoin itself. "By fusing two best-in-class assets—real estate and Bitcoin—we are creating the most sustainable and forward-looking portfolio in the market," Cardon told Bitcoin.com. The fund offers investors exposure to stable rental income and BTC's long-term appreciation.
Market Implications
Cardon's move signals a growing trend of institutions treating Bitcoin as a core asset. Following Michael Saylor's lead—Strategy remains the largest public corporate Bitcoin holder—Cardon's hybrid fund model could encourage other real estate private equity players to allocate capital to BTC, further legitimizing cryptocurrency in alternative investments.